by Mark O’Byrne
Silver bullion prices surged 3.65% yesterday and have surged 8% in just six trading days. Silver rose 56 cents from $15.34 to $15.90 per ounce yesterday, made further gains in Asian and early European trading and broke above the psychological resistance of $16 per ounce.
Since last Monday (April 4), silver has surged from $14.93 to $16.12 per ounce for an 8% gain as ongoing robust physical demand finally seems to be impacting on prices which remain depressed. Silver is now testing technical resistance at $16.15/oz and a close above that level could see silver quickly move to test the next level of resistance at $18 per ounce seen in May 2015.